Top SBA Lenders in Tennessee

Businesses in Tennessee searching for SBA loans have a diverse set of lending institutions to consider. Here, we delve into the top 10 SBA lenders in the state, highlighting what makes each unique and valuable for potential borrowers:

Tennessee Preferred SBA Lenders

RankBankBank HQ# of Loans Avg Loan Avg Interest
1U.S. BankCincinnati, OH102 $80,141 7.3%
2The Huntington National BankColumbus, OH35 $395,969 7.4%
3Pinnacle BankNashville, TN28 $1,033,789 6.5%
4BayFirst National BankSaint Petersburg, FL25 $182,932 8.8%
5Regions BankBirmingham, AL18 $845,028 7.3%
6BancorpSouth BankTupelo, MS17 $324,794 7.2%
7Wells FargoSioux Falls, SD17 $73,665 9.3%
8Newtek Small Business FinanceLake Success, NY16 $465,375 7.8%
9First Horizon BankMemphis, TN14 $1,041,464 6.5%
10Live OakWilmington, NC14 $1,183,929 6.7%
11United Midwest Savings BankDe Graff, OH14 $150,000 7.5%
12Bank of AmericaCharlotte, NC13 $316,338 4.8%
13CapStar BankNashville, TN13 $819,208 6.8%
14Readycap Lending, LLCBerkeley Heights, NJ13 $596,292 8.2%
15Celtic BankSalt Lake City, UT7 $351,757 7.1%
16Citizens BankElizabethton, TN7 $328,371 6.7%
17Brightbridge, Inc.Chattanooga, TN6 $229,083 9.6%
18Fifth Third BankCincinnati, OH6 $194,367 6.6%
19Simmons BankPine Bluff, AR6 $749,600 7.9%
20Stearns BankSaint Cloud, MN6 $340,250 7.8%
21The First Bank and TrustLebanon, VA6 $306,717 6.0%
22First Farmers and Merchants BankColumbia, TN5 $422,280 6.9%
23Metro City BankDoraville, GA5 $1,377,000 5.3%
24Byline BankChicago, IL4 $1,044,000 6.8%
25Customers BankMalvern, PA4 $2,213,750 6.2%
26First Financial BankEl Dorado, AR4 $1,804,500 6.5%
27Northeast BankLewiston, ME4 $81,200 8.3%
28Renasant BankTupelo, MS4 $1,447,500 7.0%
29Republic Bank & TrustLouisville, KY4 $353,400 5.1%
30United Community BankBlairsville, GA4 $762,750 5.9%
31BankPlusBelzoni, MS3 $2,346,300 4.1%
32First Bank of the LakeOsage Beach, MO3 $370,000 7.7%
33Grasshopper BankNew York City, NY3 $789,000 6.5%
34Truist BankCharlotte, NC3 $833,000 5.9%
35West Town Bank & TrustNorth Riverside, IL3 $216,667 7.8%

1. U.S. Bank

U.S. Bank, headquartered in Cincinnati, Ohio, stands as a national leader in SBA lending for Tennessee. With 102 loans, the bank provides an average loan amount of $80,141 at a 7.3% interest rate. U.S. Bank’s national reach makes it an attractive choice for businesses seeking a well-established and widely accessible financial partner.

2. The Huntington National Bank

The Huntington National Bank, based in Columbus, Ohio, takes the second spot with a regional focus on Tennessee. Having granted 35 loans, the bank offers an average loan amount of $395,969 at a 7.4% interest rate. Businesses in Tennessee looking for a lender with regional expertise and a broad range of financial services may find The Huntington National Bank appealing.

3. Pinnacle Bank

Pinnacle Bank, headquartered in Nashville, Tennessee, stands out as a key player in the state. With 28 loans, the bank specializes in larger loan amounts, providing an average loan of $1,033,789 at a competitive 6.5% interest rate. Pinnacle Bank is a significant option for businesses in need of substantial financial support.

4. BayFirst National Bank

BayFirst National Bank, based in Saint Petersburg, Florida, secures the fourth position. With 25 loans, the bank offers an average loan amount of $182,932 at a relatively higher 8.8% interest rate. Businesses seeking a lender with a regional touch and competitive financing terms may find BayFirst National Bank to be a suitable choice.

5. Regions Bank

Regions Bank, headquartered in Birmingham, Alabama, secures the fifth spot in Tennessee. With 18 loans, the bank provides an average loan amount of $845,028 at a 7.3% interest rate. Regions Bank offers a blend of national reach and significant loan offerings, making it an attractive choice for businesses seeking comprehensive financial solutions.

6. BancorpSouth Bank

BancorpSouth Bank, based in Tupelo, Mississippi, takes the sixth position with a regional focus on Tennessee. Having supported businesses with 17 loans, the bank offers an average loan of $324,794 at a 7.2% interest rate. BancorpSouth Bank may be an attractive option for businesses seeking a regional bank with personalized service.

7. Wells Fargo

Wells Fargo, headquartered in Sioux Falls, South Dakota, secures the seventh spot. With 17 loans, the bank provides an average loan amount of $73,665 at a 9.3% interest rate. Wells Fargo, as a well-established national bank, is a viable choice for businesses in Tennessee looking for a reputable financial partner.

8. Newtek Small Business Finance

Newtek Small Business Finance, based in Lake Success, New York, is the eighth-ranked lender. With 16 loans, the lender offers an average loan amount of $465,375 at a 7.8% interest rate. Newtek Small Business Finance may be an attractive option for businesses seeking a lender with a national reach and a focus on diverse financial services.

9. First Horizon Bank

First Horizon Bank, headquartered in Memphis, Tennessee, secures the ninth position. With 14 loans, the bank specializes in larger loan amounts, offering an average of $1,041,464 at a 6.5% interest rate. Businesses in need of substantial financial support may find First Horizon Bank to be a strategic partner.

10. Live Oak

Live Oak, based in Wilmington, North Carolina, closes the top 10 SBA lenders in Tennessee. With 14 loans, the bank offers an average loan amount of $1,183,929 at a 6.7% interest rate. Live Oak stands out for businesses in Tennessee seeking significant funding for growth and expansion.

In conclusion, Tennessee businesses have a diverse array of SBA lenders to choose from, each offering unique strengths and services. Whether seeking regional support, substantial funding, or a national banking partner, these top 10 lenders cater to the varying needs of businesses in the Volunteer State.

Top Industries for SBA loans in Tennessee

RankIndustry# of Loans Avg Loan Avg Interest
1Full-Service Restaurants25 $413,652 6.5%
2Limited-Service Restaurants24 $564,575 7.3%
3Hotels (except Casino Hotels) and Motels18 $2,775,906 6.3%
4Plumbing, Heating, and Air-Conditioning Contractors16 $575,213 7.1%
5Fitness and Recreational Sports Centers15 $468,007 6.9%
6Insurance Agencies and Brokerages12 $130,208 7.0%
7Electrical Contractors12 $247,208 6.8%
8Residential Remodelers10 $76,400 8.9%
9Snack and Nonalcoholic Beverage Bars10 $664,950 7.2%
10Sports and Recreation Instruction9 $302,711 5.8%
11Offices of Physicians (except Mental Health Specialists)9 $1,040,478 5.8%
12Child Day Care Services8 $1,332,613 6.1%
13All Other Personal Services8 $426,463 7.1%
14Marketing Consulting Services8 $69,375 8.0%
15Other Personal Care Services8 $169,725 7.3%
16General Freight Trucking, Local7 $417,371 6.3%
17Janitorial Services6 $343,667 6.5%
18Beauty Salons6 $218,583 6.7%
19General Automotive Repair6 $242,083 6.4%
20Supermarkets and Other Grocery (except Convenience) Stores6 $506,483 7.6%
21Pet Care (except Veterinary) Services6 $522,433 6.0%
22Offices of Dentists5 $2,077,560 7.2%
23Electronic Shopping and Mail-Order Houses5 $179,120 6.0%
24Broilers and Other Meat Type5 $2,285,720 5.7%
25All Other Specialty Trade Contractors5 $247,300 9.3%
26Painting and Wall Covering Contractors5 $221,160 6.9%
27Offices of All Other Miscellaneous Health Practitioners4 $260,625 8.4%
28All Other Amusement and Recreation Industries4 $886,250 6.6%
29Carpet and Upholstery Cleaning Services4 $653,750 7.3%
30Finish Carpentry Contractors4 $150,000 7.3%
31Home Health Care Services4 $1,431,250 8.9%
32Process, Physical Distribution, and Logistics Consulting Services4 $82,500 7.0%
33Site Preparation Contractors4 $77,800 6.5%
34Framing Contractors4 $50,000 6.5%
35Other Services to Buildings and Dwellings3 $26,667 6.5%
36Other Management Consulting Services3 $73,667 8.7%
37Other Direct Selling Establishments3 $95,433 7.8%
38Offices of Podiatrists3 $711,867 6.5%
39Offices of Certified Public Accountants3 $513,000 6.8%
40Used Merchandise Stores3 $184,667 7.4%

Top SBA Loan Franchises in Tennessee

RankFranchiseName# of Loans Avg Loan Avg Interest
1Pro-Lift Doors4 $150,000 7.3%
2Scooter’s Coffee4 $1,101,000 6.1%
3Hotworx3 $296,000 6.7%
4Baymont Inn & Suites3 $3,063,267 5.3%
5Zaxby’s2 $1,155,950 8.1%
6SafeSplash Swim School2 $84,500 6.0%
7Premier Martial Arts Studio2 $139,000 5.5%
8Kidokinetics2 $150,000 6.0%
9Whit’s Frozen Custard2 $164,500 7.8%
10Ace Handyman Services2 $150,000 6.8%
11CertaPro Painters2 $346,900 6.0%
12Restore Cryotherapy2 $178,500 5.4%
13Burn Boot Camp2 $330,250 5.1%
14The Maids2 $20,000 6.5%
15The Exercise Coach2 $145,000 5.8%
16Fibrenew2 $150,000 6.3%
17Club Pilates2 $174,500 7.8%
18Dee-O-Gee2 $298,250 6.0%
19The Toasted Yolk Cafe2 $382,000 6.0%
20Comfort Keepers2 $2,780,000 9.0%
21Motel 62 $2,350,000 4.5%
22Super 82 $2,758,750 6.8%

Top Tennessee SBA Loan Borrowers by Jobs Supported

RankBusinessLocationIndustry Loan Size Interest Rate Jobs
1ACKLEN AVENUE SOFTWARE LLCNashville, TNCustom Computer Programming Services $1M – $2.5M 8.5%216
2COMFORT KEEPERSBrentwood, TNHome Health Care Services $2.5M – $5M 9.0%176
3MAINSTREAM HEATING AND COOLINGClarksville, TNPlumbing, Heating, and Air-Conditioning Contractors $1M – $2.5M 9.3%152
4FELTZ THERAPY SERVICES LLCNashville, TNOffices of Physical, Occupational and Speech Therapists, and Audiologi $500K – $1M 7.8%146
5BRIGHTHOUSE GREEN HOME CLEANINNashville, TNJanitorial Services $250K – $500K 8.3%118
6MENIMA LLCBartlett, TNHome Health Care Services $250K or less 7.5%100
7FUEL SYSTEMS INTERNATIONAL LLNashville, TNCommercial and Industrial Machinery and Equipment (except Automotive a $250K or less 6.8%96
8GULLY BOYZ EAST NASHVILLE LLCNashville, TNLimited-Service Restaurants $250K – $500K 8.0%80
9AR SWIM SCHOOLS INC.Collierville, TNSports and Recreation Instruction $250K or less 6.0%76
10CASH T4L TN LLCBrentwood, TNLimited-Service Restaurants $250K or less 8.5%66
11MED-RIDE INC.Jamestown, TNBus and Other Motor Vehicle Transit Systems $500K – $1M 6.5%65
12CLIMATE HOLDINGS LLCKnoxville, TNPlumbing, Heating, and Air-Conditioning Contractors $500K – $1M 7.4%64
13SMOKY MOUNTAIN CUSTARD LLCFarragut, TNSnack and Nonalcoholic Beverage Bars $250K or less 7.8%60
14DIGESTIVE AND LIVER HEALTH SPEHendersonville, TNOffices of Physicians (except Mental Health Specialists) $500K – $1M 4.3%60
15EMERSON GROUP LLCLenoir City, TNOffices of Podiatrists $1M – $2.5M 6.8%60
16FRESH CO. FOODS LLCNashville, TNCaterers $250K or less 10.0%55
17JAYMAX HOSPITALITY INCMadisonville, TNFull-Service Restaurants $1M – $2.5M 6.3%54
18WASABI JAPANESE STEAKHOUSE 1Knoxville, TNFull-Service Restaurants $1M – $2.5M 5.0%54
19WASABI JAPANESE STEAKHOUSE 2Knoxville, TNFull-Service Restaurants $1M – $2.5M 5.0%52
20THE HIDEOUT SALON AND LOUNGENashville, TNBeauty Salons $250K or less 9.0%50
21ABC BEHAVIOR THERAPYCordova, TNOffices of Mental Health Practitioners (except Physicians) $250K – $500K 3.0%50
22ABC BEHAVIOR THERAPY LLCCordova, TNOffices of Mental Health Practitioners (except Physicians) $500K – $1M 3.0%50
23SPIRIT OF THE SMOKIES CONDO LOPigeon Forge, TNHotels (except Casino Hotels) and Motels $2.5M – $5M 7.0%48
24JAVA JUICE HOUSE LLCJohnson City, TNLimited-Service Restaurants $250K or less 7.5%47
25APEX RECOVERY LLCColumbia, TNResidential Mental Health and Substance Abuse Facilities $2.5M – $5M 6.3%47
264VX LLCMurfreesboro, TNIndustrial Machinery and Equipment Merchant Wholesalers $1M – $2.5M 5.3%44
27AVO INCNashville, TNFull-Service Restaurants $250K – $500K 3.0%43
28TIGER STREEK LLCClarksville, TNLimited-Service Restaurants $500K – $1M 9.0%42
29GLOVEBIRDS LLCArlington, TNFull-Service Restaurants $500K – $1M 8.8%42
30SOUTH EAST MOWING LLCBlountville, TNSite Preparation Contractors $250K or less 6.0%40
31CORPORATE QUARTERS INC.Knoxville, TNNonresidential Property Managers $500K – $1M 6.8%40
32WTCB FOODS LLCBrentwood, TNLimited-Service Restaurants $500K – $1M 8.0%40
33H&M CHICKEN LLCMcminnville, TNLimited-Service Restaurants $1M – $2.5M 8.3%40
34BK SPORTS NASHVILLE LLCHermitage, TNAll Other Amusement and Recreation Industries $2.5M – $5M 9.0%40
35COUNTRY VIEW MARKET LLCCharlotte, TNSupermarkets and Other Grocery (except Convenience) Stores $1M – $2.5M 7.3%38
36NOLO 615 INC.Nolensville, TNChild Day Care Services $2.5M – $5M 4.3%38
37MBF LLCMaryville, TNFull-Service Restaurants $500K – $1M 4.5%36
38FAMILY PET HEALTH PLLCMurfreesboro, TNVeterinary Services $2.5M – $5M 7.3%36
39VCC WELLNESS LLCFranklin, TNOffices of All Other Miscellaneous Health Practitioners $500K – $1M 8.3%34
40JAMES ADKINSColumbia, TNJanitorial Services $500K – $1M 6.0%34
41CLEAN RITE COMMERCIAL CLEANINGDandridge, TNJanitorial Services $500K – $1M 6.0%33
42SCOTTS PLUMBING COMPANY INCKnoxville, TNPlumbing, Heating, and Air-Conditioning Contractors $1M – $2.5M 6.3%33
43ISAAC BROTHERS LLCNashille, TNLimited-Service Restaurants $250K – $500K 9.0%32
44YOUR MOVE LLCKnoxville, TNOther Waste Collection $250K – $500K 6.3%32
45THE BRO TEAM LLCBrentwood, TNAll Other Personal Services $500K – $1M 6.8%32
46COLORTECH INK & COATINGS LLCAdamsville, TNPrinting Ink Manufacturing $250K – $500K 8.0%31
47LOTUS LEARNING CENTERNashville, TNChild Day Care Services $250K – $500K 4.8%30
48ROCKY TOP HOLDING COMPANY LLCKnoxville, TNLessors of Nonresidential Buildings (except Miniwarehouses) $500K – $1M 5.5%30
49METROPOLITAN CARDIOVASCULAR INMemphis, TNOffices of Physicians (except Mental Health Specialists) $1M – $2.5M 5.0%30
50BRELLAANCAKE COFFEE LLCKingsport, TNSnack and Nonalcoholic Beverage Bars $1M – $2.5M 7.8%29
51GSP INVESTMENTS LLCKnoxville, TNChild Day Care Services $2.5M – $5M 5.8%29
52MY CURIOUS CANINE LLCKnoxville, TNPet Care (except Veterinary) Services $250K or less 6.0%26
53THE FAINTING GOAT COFFEE LLCSpring Hill, TNSnack and Nonalcoholic Beverage Bars $500K – $1M 7.5%26
54PARADOXE CORPORATIONJackson, TNElectrical Apparatus and Equipment, Wiring Supplies, and Related Equip $2.5M – $5M 4.5%26
55BO’S AT INDIAN RIVER MARINA LJacksboro, TNMarinas $2.5M – $5M 5.0%26
56GOLDEN ROAST INCKnoxville, TNAll Other Specialty Food Stores $250K or less 9.3%25
57CHRISTOPHER WARD AND COMPANYMemphis, TNSound Recording Studios $250K or less 6.3%25
58JTW FITNESS INCMurfreesboro, TNFitness and Recreational Sports Centers $250K or less 7.8%24
59H & C HOSPITALITY COMemphis, TNFull-Service Restaurants $250K – $500K 7.0%24
60ESTEEMED LLCGallatin, TNAll Other Personal Services $250K – $500K 8.0%24
61YOGASIX BELLEVIEWNashville, TNFitness and Recreational Sports Centers $250K – $500K 8.3%24
62BUCKSHOT JEFF CITY LLCJefferson City, TNLimited-Service Restaurants $250K – $500K 8.5%24
63BELMONT DO-NUTS LLCMemphis, TNSnack and Nonalcoholic Beverage Bars $500K – $1M 6.5%24
64E & H REFRIGERATION INC.Martin, TNPlumbing, Heating, and Air-Conditioning Contractors $1M – $2.5M 6.3%24
65JTC FARM LLCOld Fort, TNOther Poultry Production $1M – $2.5M 6.0%24
66H & C HOSPITALITY COGermantown, TNFull-Service Restaurants $250K – $500K 5.0%23
67DREAM HOME PUPPIESMurfreesboro, TNPet and Pet Supplies Stores $2.5M – $5M 6.0%23
68DOG DAY VENTURES LLCFranklin, TNFull-Service Restaurants $250K – $500K 6.0%22
69SACCONE RESTAURANTS LLCKnoxville, TNFull-Service Restaurants $250K – $500K 6.5%22
70JDA REAL ESTATECordova, TNLessors of Other Real Estate Property $1M – $2.5M 5.3%22
71PITA WAY COOL SPRINGS BLVD LLCFranklin, TNLimited-Service Restaurants $250K – $500K 5.5%21
72HAUTE POKE LLCFranklin, TNLimited-Service Restaurants $250K – $500K 6.0%21
73DR. MARRIO SMILES PLLCMemphis, TNOffices of Dentists $500K – $1M 6.5%21
74BETTER METALLLCMurfreesboro, TNOther Commercial Equipment Merchant Wholesalers $1M – $2.5M 6.5%21
75OPTIMAL MEDICAL MANAGEMENT LLKnoxville,, TNOffices of Physicians (except Mental Health Specialists) $1M – $2.5M 6.7%21
76OPRY MILLS DEVELOPMENT INCNashville, TNConfectionery and Nut Stores $250K or less 8.8%20
77KINDERGARTEN SMORGASBOARD LLCBrentwood, TNElectronic Shopping and Mail-Order Houses $250K or less 9.8%20
78WOODROW B. HIXSON AND AMANDAGreeneville, TNChild Day Care Services $250K or less 6.0%20
79KUKURUKU CRISPY CHICKENLakeland, TNLimited-Service Restaurants $250K – $500K 9.3%20
80PINKY RING PIZZA LLCMadison, TNLimited-Service Restaurants $250K – $500K 5.8%20
81STELLA ROSETTA GROUP LLCMemphis, TNLimited-Service Restaurants $250K – $500K 6.5%20
82AMPLIFIED NUTRITION LLCCordova, TNLimited-Service Restaurants $500K – $1M 4.8%20
83THE HORN GROUP LLCMount Juliet, TNSnack and Nonalcoholic Beverage Bars $1M – $2.5M 5.5%20
84THE HORN GROUP LLCHendersonville, TNSnack and Nonalcoholic Beverage Bars $1M – $2.5M 5.5%20
85IBG LLCKnoxville, TNBarber Shops $250K or less 7.5%19
86DILLOW-TAYLOR FUNERAL HOME ANDJonesborough, TNFuneral Homes and Funeral Services $2.5M – $5M 5.8%19
87EKO AFRICAN MARKET LLCNashville, TNSupermarkets and Other Grocery (except Convenience) Stores $250K or less 7.7%18
88WARRICKS MAINTENANCEPegram, TNResidential Remodelers $250K or less 8.5%18
89OPO COFFEE CORP.Chattanooga, TNSnack and Nonalcoholic Beverage Bars $250K or less 8.0%18
90SOUL’D OUT FITNESS LLCKnoxville, TNFitness and Recreational Sports Centers $500K – $1M 5.0%18
91POWER AND PRYSE ORTHODONTICSClinton, TNOffices of Dentists $500K – $1M 5.3%18
92GREGORY HOLDINGS LLCLebanon, TNOffices of Dentists $2.5M – $5M 8.5%18
93WOLFCHASE 40 LLCBartlett, TNHotels (except Casino Hotels) and Motels $2.5M – $5M 8.0%18
94J & C ENTERPRISES LLCPiperton, TNJanitorial Services $250K or less 5.7%17
95TANNERHILL CORPFranklin, TNGeneral Freight Trucking, Local $500K – $1M 6.0%17
96THE LAW OFFICE OF JAMES GRAHAMKnoxville, TNOffices of Lawyers $1M – $2.5M 6.3%17
97MOXLEY CARMICHAEL INCKnoxville, TNAdvertising Agencies $1M – $2.5M 6.8%17
98TENNESSEE ELITE GYMNASTICS LLKnoxville, TNSports and Recreation Instruction $250K or less 6.3%16
99MAIDON ENTERPRISES LLCCollierville, TNSports and Recreation Instruction $250K or less 5.5%16
100LACE & COMPANY BRIDES BY BRITTColumbia, TN $500K – $1M 7.5%16

Note about SBA lenders near me in Tennessee

When it comes to top Tennessee SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Tennessee preferred lender list, 2) approved lenders in Tennessee, or 3) active participants in the Tennessee SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Tennessee swiftly. The answer is an unequivocal yes. These aren’t your run-of-the-mill banks making only a handful of SBA loans annually; these are institutions well-versed in the intricacies of the SBA 7(a) loan program. They stand out as the top performers in Tennessee, as evidenced by our thorough analysis of thousands of SBA loans each year, leading us to rank lenders based on recent activity.

It’s crucial to note that while some banks may limit their lending to specific regions, there exist a select few highly assertive nationwide SBA lenders that operate nationally. These lenders possess a profound understanding of the SBA program and execute transactions with remarkable speed. Therefore, we advise against restricting your search solely to your home state. Our lender match tool proves invaluable in this regard. By utilizing it, we can identify suitable SBA banks tailored to your specific needs, be it geography, industry, company size, all at no cost or obligation to you. This service aims to save you valuable time and ensure a seamless SBA loan process.